1. Technical Field
The present invention generally relates to meter reading systems. More particularly, the invention relates to an automated approach to meter reading, billing and payment processing that reduces retrofitting costs, increases functionality and enhances performance.
2. Discussion
In the utility industry, recent difficulties associated with deregulation have placed a premium on cost reduction and automation. In particular, the complexity of conventional billing processes has placed meter reading approaches and systems under heightened scrutiny. In fact, the majority of utility companies still rely upon a manual meter reading approach that involves a significant labor cost, invoicing delay and equipment costs. While some companies have opted to reduce the frequency of meter reading and estimate commodity usage during interim periods, such an approach lends itself to uncertainty and adds risk to the overall operation.
While a number of approaches to automating the meter reading process have been made, certain difficulties remain. For example, most conventional automation approaches require meter replacement or a complex retrofitting process. With the hundreds of millions of meters currently in service, it is easy to understand that the associated costs make these approaches impractical in a modern economy. It is therefore desirable to provide a method and system that streamline the billing process while at the same time reduce operating costs and enhance performance.